NETEASE RELEASED 3RD-PARTY MINI PAYMENT FUNCTION

AsiaInfo Services
01-14-2011
NetEase Released 3rd-party Mini Payment Function

BEIJING, Jan 14, 2011 (SinoCast Daily Business Beat via COMTEX) -- NetEase.com, Inc. third-party payment instrument launched mini payment function on January 13, 2011.

Plus the credit card fast payment agreement inked with eight banks, the NetEase payment instrument has entered into the right path. An insider disclosed that the instrument has submitted an application for the third-party payment license to the People's Bank of China, the nation's central bank.

In addition, the third-party payment instrument under an online game leader Shenda earlier showed that it will focus on mini payment. Similar to NetEase, Shenda also owns the online game time card sale business. Gong Chao, executive vice general manager of the Shenda payment instrument said that the number of transactions via the instrument hit 5,800 per minute, and up to 3 billion on average annually.

The NetEase payment instrument mainly takes the payment instrument of Tecent as the target competitor, and the latter takes the second place by the market share of the third-party payment instrument.

Source: www.thebeijingnews.com (January 14, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Online/Direct Banking
SinoCast China Business Daily news
third-party payment
mini payment
fast payment
payment license
market share

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